Market demand for renewable electricity documented with Guarantees of Origin (GO) continues to increase in Europe. After the first two quarters in 2014 the volume purchased by European customers is already 229 TWh. This is already almost in line with the TOTAL volumes purchased in 2013 (246 TWh).
The impressive growth is likely spurred by increased focus on traceability and documentation related to corporate sustainability reporting.
Global “reporting initiatives” like CDP (“Carbon Disclosure Project”) and GHG Protocol, as well as EU’s recently approved CSR Directive bring to attention the need for “the business world” to contribute to changing energy behavior, and to document their energy purchasing choices. Guarantees of Origin is the primary tool to enable this in Europe. In the US we see similar developments related to the use of RECs, and in selected countries in Asia the new I-REC standard is becoming available.
On the supply side the volume showed very strong growth figures in 2012 and 2013, with the inclusion of supply from new countries like France and Italy. The growth on the supply side is expected to taper off somewhat in 2014, likely to create a better balance between supply and demand.
These numbers are based on market statistics provided by AIB (Association of Issuing Bodies). What makes these numbers even more impressive is that the numbers are understated. There are countries that have significant volumes – both supply and demand – for national use, and which are not included in the official market statistics.